Unit Cost Market $ 16 20 28 17 Unit $24 25 75 40 15 Required a. Determine the value of the ending inventory using the lower-of-cost-or-market rule applied to (1) each individual inventory item and (2) the inventory in aggregate. Ending Inventory ndividual item method Aggregate method 4,270 4,434 b. Prepare any necessary journal entries, assuming the decline in value is immaterial, using the (y individual method and (2) aggregate method. Hagen Metal Works uses the perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit 1 1 Cost of goods sold Inventory Cost of goods sold Inventory 2